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So now there's an amendment to the pending legislation:
The unemployment provision would forgive up to $10,200 in taxes on unemployment benefits received in 2020.
Good thing this site has such a lousy search function that no one can find where I said it would never happen.
Stay tuned -- but don't send off any returns with unemployment yet.
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I have more returns *waiting* due to unemployment and/or PPP/EIDL funding than I have filed. It's rather painful from a cash flow standpoint/from a storage standpoint/from a psychological standpoint. Seems like every return I try to finalize has one or the other - it's frustrating.
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My unemployment returns are out the door, but I am keeping track in case I have to go back later. We have been holding up the PPP returns though, but I'm not sure how much longer we are going to be doing that. Maybe my memory is getting worse than I thought because I long for the good old days - like last tax season.
Slava Ukraini!
